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Good question. That was exactly the topic with the last so called all time high. People were pumped to have another ATH, but they totally forgot that the dollar itself has lost a ton of value since the ATH at the start of the year. Measured in euros for example, that wasn't even an ATH. But even the euro has lost value, just slower than the dollar. Maybe we should measure it in silver instead. I've heard that a chicken still costs the same amount of silver as it did 1500 years ago. 😉

now so pleased to hear that you find it interesting. I did not know bout the ATH but indeed it is a question worth asking. I did not see a lot people ask. As for silver, that is news to me. Ty for teaching me something new ☺️🫂

I, like others, have inverted the question for myself. My dashboard shows me that $1 of snow pesos (Canadian currency) is worth about 786 sats. That number will go down as more snow pesos get created and the currency diluted.

I like to measure moneys against one another. How many Sats per Ounce of Gold?

I understand. So does that mean we cannot independently value #btc without precious metal or fiat? genuine question 🤔☺️

oh I did not realise there is a bull or cow as an emoticons 😂

Technically you could measure anything's value in Bitcoin. Typically it is up to the seller. If the seller is not offering to sell a good in Bitcoin, and are only offering it in Fiat, then you have to do the conversion. If a vendor only lists the Bitcoin price for their goods, the value is determined by how much Bitcoin it'll take for them to part with their product. It's just a matter of perspective. What do you measure the value of your Fiat in? Or the value of Gold in? Bitcoin is the only measuring stick that is finite. You are asking a similar question to "If a meter is valued in centimeters, then is a meter valueless without centimeters to measure it?"

TLDR: You cannot measure anything without a form of measurement. Bitcoin should be the denominator, and not the numerator of value.

A prime example is nostr:nprofile1qqs2zqnq524z7zfdsh3vpwpwjh4vt7xxp6sec68y3xr3ndvve23ru0spzamhxue69uhhyetvv9ujuurjd9kkzmpwdejhgtcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhszynhwden5te0dehhxarjw4jjucm0d5hsgheky9. Bullish lists all products based on the Sat value that Bullish is willing to part with the products. https://thebullish.shop/products You don't use the product to value Bitcoin, you use Bitcoin to value the product.

indeed. I am wondering who is going to decide what is the measurement. I have seen time and time again that standards/metrics must be done to assess value & progress. But only few know who gets to decide the measurement and on what. Even economists who are trying to predict the future market still get it wrong bcoz the system they are basing it on is incorrect. Richard Werner is great at uncovering this. fascinating food for thought ☺️